Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
At least 23 people were killed and dozens injured as tornado and strong thunderstorms swept across Mississippi, United States, late on Friday, leaving a trail of damage for over 100 miles.
The joint venture will look at long-term, patient investments on solutions that don't lend to an IPO or exit on valuation basis.
State Bank of India partnered GE Capital in 1998 for its credit card business.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
With companies like Google, Amazon and Facebook having their offices world over, science and engineering professionals working in data centres are key assets for a country's economic stability and security. Focused programmes and adequate attention to traditional educational programmes will help build a pool of skilled people.
Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
R Venkataramanan, the managing trustee of the Sir Dorabji Tata Trust who is responsible for all Tata-run trusts, prefers to keep a low profile but has emerged as a power centre in the group - with more clout than many established CEOs, says Dev Chatterjee.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
The Tata empire turns 150 this year. R Gopalakrishnan, former director, Tata Sons Ltd, imagines a conversation among the group's founder Jamsetji, his son Dorabji, his successor, Nowroji Saklatwala, and his successor, J R D Tata.
Analysts sceptical whether company will sustain rise in operating profits.
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
The issue will now have to be resolved through arbitration.
About time the Tata companies that are owned by the public are freed from the clutches of Tata Sons, says Sudhir Bisht.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Prayas Jain has been arrested for allegedly buying secret documents.
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
UK's largest union Unite warned Tata against ducking its promises and conducting a 'fire sale' of its specialty steel business
While admitting that $12-billion deal to acquire the Anglo-Dutch steel maker Corus was 'expensive', Tata, however, said he was hopeful of a turnaround by the struggling European steel giant.
The British pound was down nearly 9 per cent in early morning trade.
Have conviction in your bets and use stop-loss as a defence mechanism to curtail losses.
Rebalance your portfolio in case it has become overweight on equities vis-a-vis your strategic asset allocation.
The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The government in January restarted the divestment process of Air India and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Limited and 50 per cent in Air India SATS Airport Services Private Ltd.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
Invest in quality companies that make profits, advises stock market expert and rediffGURU Samraat Jadhav.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
US private equity firm I Squared Capital is dropping out of the race to buy India's second-largest state oil firm, Bharat Petroleum Corporation Ltd (BPCL) owing to a complex deal structure and lack of financial backers for the transaction, sources said. I Squared Capital through its Indian arm, Think Gas was among the three suitors that had evinced interest in buying the government's near 53 per cent shareholding in BPCL. "The company has made a decision not to participate in the financial bidding," a source with direct knowledge of the development said.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
With a common account number, you can use the MF Utilities platform to invest in any fund house's scheme.
Domestic fund houses are of the view that the US Fed's status quo stance on rates is a positive indication for RBI to lower its lending rates.
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
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